Bright Smart: Morgan Stanley Discloses HK$1.71 Million Derivative Sale Ahead of Potential Mandatory Offer

Bulletin Express04-01

Bright Smart Securities & Commodities Group Limited is the subject of a Rule 22 disclosure filed on 1 April 2026 concerning a possible mandatory general offer. The filing details a transaction by Morgan Stanley & Co., International plc, identified as a Class (5) associate connected with the potential offeror.

On 31 March 2026, Morgan Stanley & Co., International plc executed an unsolicited client-facilitation sale of derivatives linked to 146,000 Bright Smart shares. The reference price was HK$11.68 per share, giving the derivatives an aggregate value of HK$1.71 million. The instruments carry a maturity/closing-out date of 29 May 2026. Following the disposal, Morgan Stanley & Co., International plc reported a resultant balance of zero Bright Smart shares or related derivatives, including positions held on behalf of any parties with whom it has agreements or understandings.

The disclosure was made in accordance with the Hong Kong Code on Takeovers and Mergers, underscoring ongoing monitoring requirements while a potential mandatory general offer is under consideration.

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